Argentina adopting the greenback would clash with the constitution, augur hyperinflation, and risk default. The consequences would be devastating

The monetary authority has made it mandatory for bureaus de change to use an electronic system for their transactions

In a press statement, Chair Kristalina Georgieva said Argentina’s economic situation has become ‘increasingly challenging’

The government will be able to intervene in the financial market to avoid runs on the currency

Official sources said the recent devaluation was agreed with the IMF, but brought forward in light of the primary election results

The drought is also expected to continue affecting the economy in the upcoming months

Consultants agree that more is needed to curb inflation amid political uncertainty and low international reserves

Eight different consulting firms are placing this month’s inflation rate between 10% and 15%

The Central Bank also increased the interest rate by 21 percentage points